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Indian River County 1 Impact Fee Update Study <br />Table F-9 <br />Land Value Analysis - Libraries <br />Variable(�) <br />Value of Current Parcels <br />Year <br />2013 <br />Average Land <br />Value per Acre <br />$38,929 <br />Value of Vacant Land: <br />West IRC - Residential <br />- 4 to 6 acres <br />2013 <br />$12,855 <br />West IRC - All Land Uses <br />- 4 to 6 acres <br />2013 <br />$15,727 <br />Countywide - Residential <br />- 4 to 6 acres <br />2013 <br />$21,884 <br />Countywide - All Land Uses <br />- 4 to 6 acres <br />2013 <br />$26,741 <br />Vacant Land Sales: <br />West IRC- Residential <br />- 4 to 6 acres <br />2010-2012 <br />$43,238 <br />West IRC - All Land Uses <br />- 4 to 6 acres <br />2010-2012 <br />$51,252 <br />Countywide - Residential <br />- 4 to 6 acres <br />2010-2012 <br />$42,109 <br />Countywide - All Land Uses <br />- 4 to 6 acres <br />2010-2012 <br />$49,868 <br />Used in the Study <br />2013 <br />$50,000 <br />(1) Source: Indian River County Property Appraiser Database <br />Parks <br />Indian River County's parks inventory includes parcels ranging from 0.3 acres to 140 acres. <br />As such, a more detailed land value analysis was conducted, as shown in Table F-10. The <br />value of current inventory averages $31,000 per acre. Given that the land values and sales <br />for different acreage groupings range from $17,000 per acre to $100,000 per acre, an <br />average value of $50,000 per acre is found to be a reasonable estimate for impact fee <br />calculation purposes. This represents a 45 percent increase from the 2005 study and a 10 <br />percent decrease from the 2007 study. <br />Tindale -Oliver & Associates, Inc. Indian River County <br />June 2014 <br />F-14 Impact Fee Update Study <br />1 43 <br />